Jan 27, 2013 11:30am PST
: this is an item that we have been working on for quite some time. catie chang in my office among other folks and contractors have been working on ways to improve the way that we do business. one of the areas is reducing withholdings to make sure we are not the bottleneck for many of the local businesses and many small businesses and also what we can do to improve the issue of prompt payment. especially during the past few years the idea of how it is the city processes payment and get them back out to contractors is an important issue for us. if you think about the prompt an issue, you can think about it in three parts: when it is that contractors submit invoices, we hear a lot about this; how long it takes for the city to process an invoice and finally the issue of when it is that contractors pass on payment to subcontractors after the receipt payment from the city.